Northwest Investment Counselors LLC bought a new position in shares of 3M (NYSE:MMM – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 420 shares of the conglomerate’s stock, valued at approximately $57,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMM. Vanguard Group Inc. boosted its stake in 3M by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,461,361 shares of the conglomerate’s stock worth $5,246,367,000 after acquiring an additional 377,703 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 3M by 11.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock valued at $517,617,000 after buying an additional 533,520 shares during the period. Pacer Advisors Inc. raised its stake in 3M by 2.0% during the 2nd quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock worth $506,135,000 after buying an additional 97,340 shares during the period. AQR Capital Management LLC lifted its holdings in 3M by 18.6% during the second quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after acquiring an additional 396,773 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in 3M by 8.2% in the first quarter. Nordea Investment Management AB now owns 2,168,811 shares of the conglomerate’s stock valued at $228,875,000 after acquiring an additional 164,236 shares during the period. Institutional investors own 65.25% of the company’s stock.
Insider Buying and Selling
In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on MMM
3M Price Performance
NYSE:MMM opened at $134.83 on Tuesday. The stock has a market capitalization of $74.61 billion, a PE ratio of -10.60, a P/E/G ratio of 2.49 and a beta of 0.95. 3M has a 1-year low of $71.12 and a 1-year high of $140.72. The firm has a fifty day simple moving average of $132.90 and a 200 day simple moving average of $113.18. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95.
3M (NYSE:MMM – Get Free Report) last released its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same period in the previous year, the business earned $2.17 EPS. On average, research analysts expect that 3M will post 7.24 EPS for the current fiscal year.
3M Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a dividend of $0.70 per share. The ex-dividend date was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. 3M’s dividend payout ratio is currently -22.01%.
3M Company Profile
3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.
Featured Stories
- Five stocks we like better than 3M
- Breakout Stocks: What They Are and How to Identify Them
- Analysts Predict New Highs for Cybersecurity Stock by Christmas
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Nuclear Power Reaches Critical Mass: Top Stocks to Watch Now
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- 2 Energy Stocks Surging on Billion-Dollar DOE Loan Commitments
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M (NYSE:MMM – Free Report).
Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.